Fostering Innovation by Abolishing Patents
We seek the abolition of patents.
The patent system stifles innovation by making it difficult to incorporate an existing invention into a new one. It discourages researchers from sharing their new ideas until after a patent application. It prevents hundreds of thousands of people in poor countries from receiving the drugs they need. Currently pharmaceutical companies spend only 15% of their revenue on new drug research. The remaining 85% is spent on activities such as marketing and profit taking. A reformed system would dramatically increase the money available for innovation, while removing the obstacles to innovation posed by the current patent system.